A strategic business plan that aligns all activities to an agreed direction is a clear necessity for business excellence. Excellence models describe the key components that work together to deliver organisational success. A strategic business plan integrates the mission and vision of the company into activities that the leadership team can implement and monitor.
Planning and in particular strategic planning creates actionable objectives that can be followed.
All excellence models around the world tells us that the success of an organisation depends on the alignment of operational activities to an overall vision and strategy.
The ABEF also provides evaluation and prioritisation guidelines to decide which initiatives will deliver the greatest value to an organisation. Most companies have adopted social media into their marketing, but there are still a surprising number of companies large and small that have done very little to use it as a communication tool. This infographic by our friends at SocialCast gives us shining examples of the way it should be.
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It is like promoting the positive aspects of a business, and working on the weaker ones to keep up with the market demands.For a small business, it is even more challenging to plan the next steps, keeping in view the limited resources to pull up the business. A strategic business plan seeks to integrate the key components of excellence models – such as the Australian Business Excellence Framework (ABEF) – and provides the roadmap for continued success.
Companies frequently develop inspiring vision statements and captivating mission statements, but leave all of that thought process in the brainstorming session and nothing comes through that directly impacts the company.

Furthermore, excellence models such as the ABEF provide a structure to develop and integrate an organisation’s business plan. A business plan that is aligned to the ABEF also achieves much more for companies, including being a communication tool that synthesises the plans of the leadership team, a knowledge source about the organisation’s priorities, and a tool to build stakeholder engagement.
There are subtle differences to be sure, but it’s more than just marketing and branding. However, every little step if properly anticipated and prepared can lead to a big leap, even when the times are not very good. Strategic business planning enables a high-level view of these various components and how growth impacts them both uniquely and together.
However a strategic business plan encapsulates that vision and mission to steps taken to make those business concepts   well steeped reality.
What occurs is that the entirety of the company’s vision is to move from one activity to the next without an over-arching linking strategy in place. A core function of the ABEF is to bring integrity into organisations by aligning planning, prioritising doing, and measuring continuous success.
A leadership team can then manipulate the various strategies to ensure the outcome positions the company properly. Disparate activities tend to lead to a compromised vision arriving the company at a future that has not been planned for. Your company’s excellence is built upon your strategy, can you afford for it not articulated to your leadership team and stakeholders?
The businesses need to change the pace with times, and as the markets change, the growth gets better if the business can adapt itself to the changes.
Take a little time thinking whether there is a need to expand, or the changes in the current business strategy seems hopeful.

But along side, there are anticipated and unanticipated risks that need to be accommodated. Anticipated risks can be the resource limitations, cash crunch, low sale volume and many more.
The unanticipated ones can be a sudden stock crash, market mood swing, or the technology take over. For small businesses, this gets tougher since the resourcing needs an extra costing to be spared in addition to the regular expenses.
For such businesses, there may be temporary or part-time resources who can direct the business to the right direction, during their limited time of contract. Another option may be the voluntary Organizations that can help such businesses free of cost, in terms of mentoring. The competition is necessary to bring out the best, and it is equally necessary to be the best in this competition, for the mere reason of survival. There can be various ways in which the competitors can be analyzed, or their growth is assessed.
The customers’ feedback is the easiest of the many ways that can exactly tell where the business currently stands. The selling factor in the other product may work as an inspiration for one of your own launches. Try to figure out and improvise on those features.A post by Chace Monteith (8 Posts)Chace Monteith is author at LeraBlog.

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